Mattel Launches New NFT Marketplace As It Expands Its Digital Collectibles Business - NFTgators

Mattel Launches New NFT Marketplace As It Expands Its Digital Collectibles Business – NFTgators

Quick take:

  • Mattel Creations will be launched this week on the Flow blockchain.
  • Fans will be able to buy Barbie and Hot Wheels NFTs.
  • Consumers can pay for their purchases with debit/credit cards.

Mattel is launching a new NFT marketplace as it translates its iconic IP into digital art to expand its digital collectibles business. The new platform, called Mattel Creations, will be launched on the Flow blockchain this week.

On Mattel’s new NFT marketplace, fans will be able to buy digital collectibles tied to Mattel’s classic Barbie and Hot Wheels IP. The first collection on the marketplace will be the latest set in Hot Wheels NFT Garage Series. 

The company’s previous Hot Wheels NFTs, priced at $25 per pack, and include a voucher for a physical die-cast model, have all sold out. Previous releases of the series on the WAX blockchain have been trading for thousands of dollars according to WAX Market Cap.

“Our Hot Wheels digital collectibles, which are different from most other projects in the space, are built on solid collection dynamics,” Ron Friedman, vice president of the Mattel Future Lab. “This creates incredible value for our vibrant collector community using, for example, IRL redemption opportunities to exclusive die-cast cars that they love.”

The launch of Mattel Creations comes